M&A Deal Summary

Seven Mile Capital Partners, Bratenahl Capital Partners and Kayne Anderson Capital Advisors Acquire Microporous

On December 19, 2013, private equity firm Seven Mile Capital Partners, family office Bratenahl Capital Partners and asset manager Kayne Anderson Capital Advisors acquired chemicals company Microporous from Polypore International for 120M USD

Acquisition Highlights
  • This is Seven Mile Capital Partners’ 1st, Bratenahl Capital Partners’ 1st and Kayne Anderson Capital Advisors’ 1st transaction in the Chemicals sector.
  • This is Seven Mile Capital Partners’ , Bratenahl Capital Partners’ 4th and Kayne Anderson Capital Advisors’ 3rd largest (disclosed) transaction.
  • This is Seven Mile Capital Partners’ 3rd, Bratenahl Capital Partners’ 21st and Kayne Anderson Capital Advisors’ 100th transaction in the United States.
  • This is Seven Mile Capital Partners’ 1st, Bratenahl Capital Partners’ 1st and Kayne Anderson Capital Advisors’ 2nd transaction in Tennessee.

M&A Deal Summary

Date 2013-12-19
Target Microporous
Sector Chemicals
Buyer(s) Seven Mile Capital Partners
Bratenahl Capital Partners
Kayne Anderson Capital Advisors
Sellers(s) Polypore International
Deal Type Divestiture
Deal Value 120M USD

Target

Microporous

Piney Flats, Tennessee, United States
Microporous is a developer, manufacturer, and marketer of high-performance rubber, polyethylene (PE), and hybrid battery separators for flooded lead-acid batteries. Separators are a highly-engineered, mission-critical component of lead-acid batteries. Microporous was founded in 1934 and is based in Piney Flats, Tennessee.

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Buyer(S) 3

Buyer

Seven Mile Capital Partners

New York, New York, United States

Investor


Category Private Equity Firm
Founded 2011
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Seven Mile Capital Partners is a private equity firm focused on acquiring middle-market profitable companies with $5 - $50 million of EBITDA. The Firm will consider a variety of transaction situations including companies undergoing transition, carve-outs, or in need of restructuring. Industries of interest include aerospace/defense, diversified manufacturing, building products, automotive, specialty material manufacturing, value-added distribution, and logistics. Seven Mile Partners was formed in 2011 with the purchase of a legacy portfolio of private equity investments from Citigroup. The Firm is based in New York City.


DEAL STATS #
Overall 5 of 8
Sector (Chemicals) 1 of 1
Type (Divestiture) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 3 of 5
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-26 Nellson Nutraceutical

Irwindale, California, United States

Nellson Nutraceutical is a formulator of branded and private-label nutritional bar and functional powder products in North America. The company develops and manufactures nutritional bars and functional powders in a wide variety of ingredient formulations and product formats for its customer base of consumer packaged goods companies and retailers across the wellness, sports nutrition, weight control, athletic/energy, and medical nutrition end-markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-25 British Credit Trust

Newport, United Kingdom

British Credit Trust is one of the oldest car finance companies in the UK.

Sell -
DESCRIPTION

Bratenahl Capital Partners is a family-backed private investment group focused on fund as well as direct/co-investment opportunities. The Firm's direct investment practice seeks to commit $500K to $15 million in partnership with other funded or unfunded sponsors. Bratenahl does not have any sector preferences, but does prefer companies with diversified customers and experienced management in place. Bratenahl Capital Partners was formed in 2003 and is headquartered in Cleveland, Ohio.


DEAL STATS #
Overall 26 of 35
Sector (Chemicals) 1 of 1
Type (Divestiture) 5 of 5
State (Tennessee) 1 of 1
Country (United States) 21 of 30
Year (2013) 3 of 3
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-05 Avtron Aerospace

Cleveland, Ohio, United States

Avtron Aerospace, Inc. is a designer and manufacturer of electrical, electronic, and hydraulic aircraft component test solutions for the global commercial and military aerospace markets. Avtron Aerospace was founded in 1953 and is based in Cleveland, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-03 Capewell Aerial Systems

South Windsor, Connecticut, United States

Capewell Aerial Systems is a design and manufactures tactical, parachute and aerial delivery products. Capewell Aerial Systems was founded in 1881 and is based in South Windsor, Connecticut.

Buy -
Buyer

Kayne Anderson Capital Advisors

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1984
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kayne Anderson Capital Advisors is an alternative investment management firm focused on hedge funds, public funds, energy private equity, growth private equity, real estate private equity, and mezzanine finance opportunities. Kayne's energy private equity group focuses on $20 to $100 million investments in high-growth exploration and production, midstream and oilfield service companies. The energy group considers both majority or minority stakes in public and private businesses. Kayne's growth private equity practice involves structured investments in public and private companies looking for capital to finance expansion. This group will also consider middle-market leveraged transactions and management buyouts. Kayne's real estate private equity group invests in established, cash-flow generating projects. Areas of interest include student housing and campus-oriented retail properties, amongst other opportunistic investments. The Group looks for acquisitions of $25 to $100 million. Kayne's mezzanine team looks to provide $20 to $35 million of capital for mid-market businesses with $100 to $500 million of sales and $10 to $50 million of EBITDA. Kayne Capital Advisors was formed in 1984 and is based in Los Angeles with additional offices in Armonk, New York; New York City, and Houston.


DEAL STATS #
Overall 109 of 176
Sector (Chemicals) 1 of 1
Type (Divestiture) 2 of 2
State (Tennessee) 2 of 3
Country (United States) 100 of 159
Year (2013) 17 of 17
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-10 Starmount

Austin, Texas, United States

Starmount, Inc. is a developer of software solutions for mid to large sized retailers that combine the richness of the Web with access to enterprise systems to power mobile sales engagements and effectively create more personalized, relevant, and dynamic interactions with customers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-19 MaintenanceNet

Carlsbad, California, United States

MaintenanceNet provides a cloud-based software platform that uses data analytics and automation to manage and scale attach and renewals of recurring customer contracts.

Buy -

Seller(S) 1

SELLER

Polypore International

Charlotte, North Carolina, United States

Category Company
Sector Machinery
Employees2,400
Revenue 658M USD (2014)
DESCRIPTION

Polypore International, Inc. is a global manufacturer of highly engineered filtration products used in the power storage, healthcare, electronics and specialty technology industries.


DEAL STATS #
Overall 1 of 3
Sector (Chemicals) 1 of 2
Type (Divestiture) 1 of 3
State (Tennessee) 1 of 1
Country (United States) 1 of 3
Year (2013) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-02 Microporous

Piney Flats, Tennessee, United States

Microporous is a developer, manufacturer, and marketer of high-performance rubber, polyethylene (PE), and hybrid battery separators for flooded lead-acid batteries. Separators are a highly-engineered, mission-critical component of lead-acid batteries. Microporous was founded in 1934 and is based in Piney Flats, Tennessee.

Buy $76M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-23 Polypore International - Separations Media Business

Charlotte, North Carolina, United States

Polypore International - Separations Media Business is a provider of microporous membranes and modules for filtration in the life sciences, industrial and specialty segments.

Sell $1.0B